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Belgium — Economic growth better than expected but unemployment still rising

20 May 2010

A new report published by the Federal Planning Bureau (BFP) estimates that the Belgian economy will grow by +1.4% in 2010. This figure compares to the less optimistic forecasts of +1% by the Bank of Belgium, +1.3% by the European Union and +1.2% by the International Monetary Fund.

BFP forecasts economic growth of +1.7% in 2011 and +2% for the period between 2013 and 2015.


However, the BFP's predictions on unemployment are less optimistic. The unemployment rate is expected to rise to 13.3% in 2010 and fall slightly to 13% during the period between 2013 and 2015. In 2009 unemployment in Belgium was 12.5% in average.

In order to comply with the budget requirements of the European Union the Belgian government will have to save 64 billion Euro over the next five years.
 
To read the full report in French language please click here

 

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